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because of the impasse and also the fact that the consequences of the fiscal cliff, these spending cuts and these tax -- pardon me the spending cuts and the tax increases that kick in here at the end of the year, the consequences are very dire and following the election the white house and democrats think that they can really push republicans into a corner here. >> brianna keilar for us. thank you. just ahead we're going to be talking with connecticut senator richard blumenthal will join us to talk a little bit about the democrats' responsibility about this impending fiscal cliff. another story we're following, friends and family of kansas city chiefs jovan belcher looking for answers this morning after he killed his girlfriend and then took his own life. his team took to the field just a day after the tragedy. it was i guess kind of a somber victory. they beat the carolina panthers 27-21. just their second game of the season. saturday morning belcher shot his 22-year-old girlfriend kasandra perkins and then turned the gun on himself outside the practice facility. he and perkins leave b
number on the table with regard to spending. we are mixing things. we have to avoid the fiscal cliff, do a meaningful down payment on spending and taxes, build a bridge to a grand bargain. the big deal is going to be done next year. this year, the objective ought to be in the short-term reduce the deficit for next year and our long-term goals, baselines are gains. they could be manipulated by all sides. we have to focus like a laser on getting debt, public debt as a percentage of the economy down to 60% by 2024. that's what the focus of the grand bargaining should be. >> you've seen where you're trying to sell your house for $1 million and someone gives you an offer at $200,000 and you don't even answer that offer. >> right. >> but that's not what this is. it's december 3rd. it's december 3rd. >> and you know what? there was an election. >> that was not a serious offer that was made. >> well, it was an offer and the republicans haven't made a serious or nonserious offer, joe. >> you've got to go through the house. where is the house plan? >> well, i don't know. but that's -- >> stay tune
proposal. but that's just one part of the fiscal cliff debate. the other side of this, the massive spending cuts that have now educators ringing the alarm. they warn of increased class sizes, the elimination of after-school and summer school programs, libraries could close, all this as the u.s. tries to close an achievement gap. joining me now to continue our education nation conversation, world-renowned educator dr. steve perry, also host of tv one's "save my son." steve, it's great to have you here. the secretary of education, arne duncan, has said that 9 million students would be affected by the cuts including nearly 2 million that are already living in this country in poverty. when we talk about special education needs for the kids of our country, we're essentially about to take away resources from the students that need it most. however, we're not talking enough about that. >> one of the reasons why there's even a conversation about cuts is not so much because there's less money coming in, it's because of so much money going out. where we spend the most amount of money in education is
leadership says he thinks president obama wants to go over the fiscal cliff by proposing higher taxes, no spending cuts and no plans to save entitlements. with president obama going to pennsylvania today, the house republican whip, kevin mccarthy's office put out a video profiling a small business nearby in pennsylvania that would get hurt by a tax hike. >> i'm jerry gorsky from an engineering company. however good or bad we do is my income. this notion of $250,000 being top 2% or the wealthy people in america ignores the way most small businesses work in america. >> reporter: i mentioned president obama is going out on the trail, if you will in pennsylvania to sell his arguments. one would expect we would hear some sort of response from speaker john boehner after that. jon. jon: what are the democrats saying? i mean about these g.o.p. complaints? what is your response? >> reporter: they are saying republicans if you don't like the president's plan, where is your own plan? they are asking for specifics on revenue in terms of tax revenue. they are also asking for specifics on what repu
. >> no spending cuts in that? >> if -- >> you got to -- >> just to go over the fiscal cliff, you will go back and -- republicans right there would see $750 billion raised every we are. suddenly these -- these clinton tax -- bush tax cuts are so dear under -- for the 98% of the democrats i have never seen anything like it. never seen anyone love the bush tax cuts so much. more than the democrats. first 98% p they hated them all along and now they love them except the 2%. >> they are not going put one thing on the table unless they get the other, both sides. i don't see them just surrendering to tax cuts on the one hand without any expend organize vice versa. >> do you think there would be any growth, anything positive, from going over the fiscal cliff that would ameliorate the damage? >> it depends on what -- the deficit. >> if you -- depends what the alternative is. alternative is what was proposed yesterday, i would go over the cliff and take -- >> so would all the people on the left. >> but on the other hand, i hope that there can be -- >> 50/50? where are we? >> 50/50, yes. >> you don't th
to tax and spend. they don't like the plan. is our plunge off the fiscal cliff inevitable? >> and secretary of state stiewfn rice, the ambassador still getting a ton of support from the white house but benghazi may not be the only blemish on her record. >> and baby jesus benched and now frosty the snowman starring in school's nativity scene? why do atheist have more rights when it comes to the constitution? "fox & friends" hour two starts right now. >> sparkles all over. >> you guys looked very pretty in your sweater? >> dapper? >> pretty. >> send us your ugly christmas sweater photos this morning. friends at foxandfriends.com. >> did you guys plan this? >> no. >> we are wearing the exact same tie. >> we didn't plan. this didn't call each other ahead of time like ladies do. >> it's reichmuth's fault. he actually picked mine out. let's talk about the fiscal cliff which we appear to be speeding towards every day because there is nothing that even resembles a compromise on capitol hill. the president offered up his proposal this week and it was met with. [ laughter ] by some
anything done. the fiscal cliff hits. the arguments i just pa about the withholding tables and cutting spending, are not generally talked about. a lot of people deny they can be done. we're confident they can. so the question then becomes what's the impact, where is the impact. and the impact is equity markets end of next week will say these guys aren't going to get it done, we won't have a deal january 1, everything falls apart, that's assuming of course we all get past december 21st. >> so basically week and counting before you think the equity market really drops significantly? >> if we do get a deal done do, we just maintain the 2% that we're stuck in with the high unemployment and not go down? or does it actually allow us to start growing again? is anybody talking growth? >> we're talking growth. >> is it possible to ever get back to that in this environment? >> it is. you have a lot of problems with the piece. >> do you briyou believe if you rote deficit -- two different ways. you either keep the government that you have and pay for it by raising taxes, or you kind of leave taxes
the looming fiscal cliff. talked about business concerns as you head into the end of the year and even what to expect in 2014. bank of america has 55 million customers here in america. they represent one out of every two households. so moynihan has a very good idea about what consumers are doing and if they spending less because of the fiscal cliff. here's what he had to say. >> i'm more about business behavior than consumer behavior. people continue to spend, housing is a little better. all the things that affect stock market are in decent shape. the question was will everything going on cause them on slow down again. >> what are you you see rg businesses right now? >> almost a year and a halving a go, businesses getting concerned about the nature of the dialogue about the fiscal situation? washington and in europe and the issues that had to be dealt with long term and how it affects near term business in terms of what would be accelerated appreciation for investment in business. what will be the final demand. so the uncertainty factor started weighing in and caused everybody to be much mo
when we look at the fiscal cliff and everything else in terms of actual cuts in spending, everybody recoils in horror because they know it implies. >> you made your point, though, we surrendered to fdr, and instead of supplementing people, instead of letting them earn their own success, we're going to somehow try to deal with outcome rather than opportunity and pay for it. and you want to pay for -- >> no, i don't. >> in a fairer society. what you see as a fairer society. >> i didn't say it was a fairer society. but chris brought up an important point. and i want people to talk about the "wall street journal" today. we're not talking about cutting spending, not talking about cutting growth rates, which is a huge difference, one reason why people like me look at former presidential candidate mitt romney talk about npr or planned parenthood. the number one answer for balancing the budget is foreign aid. which if you really wanted to balance the budget and you don't always have to go to the department of justice or whatever it may be. but over the next ten years, 90% of federal outlays
the fiscal cliff? but the g.o.p. is not so keen on a deal, at least the one the white house presented yesterday. the first offer from president obama and treasury secretary timothy geithner included a $1.6 trillion tax increase along with an extension of the payroll answer it cut and unemployment insurance and a request for $50,000,000,000 worth of stimulus spending next year. now, it doesn't promise $400,000,000,000 worth of spending cuts but congressional republicans call the deal unbalanced and unreasonable and saying there is not enough spending cuts and reforms. the one good piece of -- piece of good news to the white house on this is it shows president obama is opening strong not conceding. we will be right back. arguments to feel confident in their positions. i want them to have the data and i want them to have the passion. but it's also about telling them, you're put on this planet for something more. i want this show to have an impact beyond just informing. an impact that gets people to take action themselves. as a human being, that's really important.
on the fiscal cliff. we can have more details on just where they are. you've got 32 days or so before the possibility of these tax increases, as well as spending cuts to go into effect, and it is high stakes diplomacy, political posturing, as well as serious economic questions in terms of how this is going to impact all of us in the coming new year. we're going to have more on that after a quick break. bayer? this isn't just a headache. trust me, this is new bayer migraine. [ male announcer ] it's the power of aspirin plus more in a triple action formula to relieve your tough migraines. new bayer migraine formula. aids is not going to take my baby. ♪ aids will not take our future. ♪ our weapons are testing... education, care and support. ♪ and aids... ♪ aids is going to lose. aids is going to lose. ♪ stop! stop! stop! come back here! humans -- we are beautifully imperfect creatures living in an imperfect world. that's why liberty mutual insurance has your back with great ideas like our optional better car replacement. if your car is totaled, we give you the money to buy one
of the business round table, amid a debate over the fiscal cliff. the group is urging congress to take immediate action to avoid those automatic tax increases and spending cuts come january. president obama is saying that with the way speaker boehner plan stands now, no deal. >> unfortunately the speaker's proposal is out of balance. we will have to see the rates on the top 2% go up and we are not going to be able to get a deal without it. >> that was an exclusive with bloomberg t.v. and the first televised interview since the president's re-election. as you heard, taxes are the big issue blocking this deal from taking place. president obama is calling for downhill the amount of tax revenue as speaker boehner over the next tens years, most from the nation's top earners. many. republicans say that's not the way to handle this. here is marco rubio. >> it wouldn'ting make a small bent in the debt but it would heard middle class businesses. >> the g.o.p. could be risking a civil war over this issue. it does not look like obama is ready to cave. if that forc
the deficit and the fiscal cliff debate. fiscal cliff debate is a tax issue and it's also a spending issue. today we focus largely on the issue of what are we going to do about medicare, a big part of the federal expenditures, an argument is this. we're here to protect medicare for seniors. period. we're not going -- we're not here to cut the benefits for seniors. we're here to see to it that medicare, which has been a program for seniors since 1964, 1965, is going to continue to be there for seniors and the benefits package there. there is changes that can be made to reduce the cost of medicare but not to reduce the benefits. we talked about many of those. and so here's where we're coming. within that area there are very, very significant savings that can be done. the prescription drug benefit. $150 billion over 10 years. other issues having to deal with keeping people healthy to extend their health care. issues having to deal with how much we pay for certain services. fraud and abuse. all of those things could add up to the potential savings -- not to the potential -- to the saving that
known as the fiscal cliff. neither side has been very willing to really deal with the nuts and bolts, the reality of tax rates, reality of spending cuts, the reality of tax reform. that's really what next year's going to be all about. right now i just don't see -- i mean, can we just get real here? we're talking five weeks tops before the end of this lame-duck session, end of the year. and these guys are going to get done in five weeks what they haven't been able to do in five months? >> here's the thing. >> we'll do it when it comes to the cliff. >> yeah, we have a deadline. >> look at human behavior for a second. the next five weeks is the chance for everybody. would would they ever be incentivized to make a deal before they have to? look at behavior. and behavior common sense tells you it's going to happen, but it's not going to happen soon. >> i understand that scenario. i spent 30 years doing deals. i know how deals work, midnight, back room, the clock is ticking. two things to remember. this is not like buying a car. this is a complicated deal. it's got so many moving pieces. y
from a fiscal cliff? >> congresswoman, i am a financial illiterate, can you explain to me how you have all encompassing tax reform without taking a look at tax rates? >> well, we have. we believe that we need tax reform. we'd like to look at tax rates, we'd like to look at the loopholes, the tax credits. we want a simpler, less costly tax code for america. that's important for middle class families, important for our economy. that is what's going to help get this economy growing again. but we also -- it also republicans believe it has to include the spending. and the way congress has operated in the past, you know, yeah, we'll increase revenue, but then there's never the protections, never the tough decisions to actually cut the spending, reduce the debt, and that has to be a part of this one. >> fair enough. arianna? >> congresswoman, in your thanksgiving message, twice you emphasize the need for jobs, the need for growth, and then you mentioned the deficit. what do you think we should be doing right now to help create jobs and bring about greater growth? >> well, one of the first thi
months of hearing about the fiscal cliff, there are no signs of a compromise plan. let's bring in senior congressional correspondent miss dana bash. dana? republicans say president obama's opening offer is, you know, all take and no give here. do they feel like the president is wasting their time? >> reporter: yes. they do. and, you know, a lot of times when we see this kind of toing and froing in public, don, it masks what is really going on behind the scenes, which is real negotiating. so i asked that question of john boehner, who has been through this kind of negotiating many, many times over many years, if that's what we're seeing or if we're at a stalemate. listen to this . the past 24 hours, is this the necessary public posturing that needs to go on to get an endgame or is there serious stalemate right now? >> there is a stalemate. let's not kid ourselves. i'm not trying to make this more difficult, but if you watched me over the last three weeks, i've been very girded in what i have to say because i don't want to make it harder for me or the president or members of both parties to
hill as the fiscal cliff looms now just 32 days away. house speaker john boehner says no progress has been made in two weeks of talks, and republicans want the white house to come up with significant spending cuts. senate democratic leader harry reid responded to boehner saying, quote, i don't understand his brain, unquote. >>> when those talks over the fiscal cliff seem to be heading towards a stalemate but do the capitol hill theatrics tell the whole story? here's thousand politico summed it up, listen to top democrats and republicans talk on camera and it sounds like they could not be further apart. but behind the scenes top officials who have been involved in the talks for many months say the contours of the deal are starting to take shape. well, joining me are jason johnson a political professor, t and a republican strategist ron bonjene, ron, let's start with you, both sides know they'll have to make a deal. one congressman says to get it there has to look like this was fighting this way it's kind of like managing the public's expectati expectations, oh, we didn't give anything,
presenting a plan to avoid the fiscal cliff. first and foremost, avoiding increasing and eliminating deductions on of her earnings to raise an additional $8 billion. $1.2 trillion in new spending cuts. the white house, no surprise, already rejecting the plan. the president saying the gop plan is out of bounds because it does not include higher taxes on the wealthy. we are joined now by a chief economist. why does it seem the only solution to be satisfied with is to raise taxes on the wealthy? >> they clearly staked out this position during the campaign. they feel they have a mandate for it. i am sort of skeptical. the sticking point is the tax rate question on the wealthy. however, with that said, progress has been made in the sense that the republicans are not willing to raise taxes, not rates, on the rich. democrats are saying they are more open to entitlement cuts, if you will, reform, whatever you want to call it. they are making progress. [talking over each other] the question is: you know, how far are both sides willing to go down to the wire to avoid this. whether it is the d
. john boehner said there has been no substantive progress in the fiscal cliff talks. >> whose fault is that. >> stephanie: yes, they have yet to get serious about real spending cuts. it's the same kind of rhetoric, isn't it? >> caller: i guess the election is not over. >> stephanie: yeah yeah, yeah. that seems to be the critical thing. they don't seem to realize that the american people have spoken. >> caller: i think everyone is trying to position himself here to get down to brass tacks which is what is going to happen before you go into oblivion. i'm not surprised with what is going on. the president made a proposal yesterday. $1.6 trillion in revenues which included $960 billion in raising marginal rates. we want the president to keep his promise. that's what the elections are all about. >> stephanie: that's right. we were just reading the latest "washington post" "abc news" poll and it echos the exit polls. 61% want those to pay their fair share, and 70% don't want them to raise the social security medicare eligibility rate. >> that's not the problem raising the rates on the wel
the fiscal cliff comes. lawmakers now have less than a month to compromise and to avoid a year-end deadline that would trigger massive spending cuts and tax hikes for just about everybody. behind-the-scenes negotiations at a stalemate. both sides went public yesterday on the sunday morning shows to make their cases. treasury secretary tim geithner predicted republicans would eventually come around to accept a tax increase on the highest earners. >> you think we'll get a deal by the end of the year? >> i do. i do. the only thing standing in the way of that would be a refusal by republicans to accept that rates are going to have to go up on the wealthiest americans. and i don't really see them doing that. >> if the republicans say sorry, no way are we going to raise rates on the wealthy, you guys are willing to go off the fiscal cliff? >> if republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a time when the american economy is doing exceptionally well, then there will not be an agreement. >> but house speaker john bigger is digging in
right now. >>> our country will be heading over the fiscal cliff that we ourselves dug and put in our way. it's the set of automatic spending cuts and tax hikes that can only be averted if our nation's leaders are able to display bear bones competence and middle school-level maturity. so is there a deal? >> there's, of course, no deal. >> of course! is there a prospect for a deal? >> there's not a prospect for a deal. >> of course! but the ongoing talks. >> there aren't even very many talks going on. >> you're killing us! give us something. >> but for the first time, there are numbers on pieces of paper from both sides. >> numbers on paper! >>> good morning. it's wednesday, december 5th. welcome to "morning joe." live in the nation's capital. this is exciting. and you know, i said, let's do a show from washington, d.c., because they get so much stuff done there. it's like silicon valley. and going there when steve jobs was really bringing apple to the forefront -- >> a happening place. >> it is. it's where things happen. that's why we're here, steve rattner. >> washington is the place
. you can't do that in three weeks. >> so do you think we go off the fiscal cliff? >> no. all you've got to do -- you know what you've got to do on the tax side. that's simple. you have to palass a law that ss the law has to be overwritten. >> and what would be your position on that? >> i think it's the simple thing to do. obviously do what the president is saying, you know. he ran a campaign on it. the legitimacy of that. if you've got to act in three weeks, you're not going to revise the income tax code in three weeks. it may be perfectly legitimate. i think that both. personal and corporate need a lot of thought and a lot of revision. they're both broken. but you're not going to do that in three weeks. the challenge i see is in three weeks you've got to have some convincing balance of the tax side, the revenue side, with the expenditure side. it's inherent. you can't change the expenditures in three weeks. you can indicate intentions, but you can't -- >> what do you think happens then? >> i think you get some understanding about the kind of framework for dealing with the expenditure s
that created it. >> bill: sure. they're the ones who brought us to the fiscal cliff as we were talking yesterday because their super committee failed to do its job and now we have the sequestration hanging over our heads. >> they constantly create a situation, try to blame obama. >> bill: kevin, do you think we dare say look, hold the line and if you don't raise rates on the top 2%, we're not going to make a deal? >> absolutely. hold the line. i'll gladly pay more taxes than to have some rich son of a bitch pay more. >> bill: you and me both. that's all right. i'm willing to do it. i am a patriotic millionaire. i ought to -- i should join the club. thanks, kevin for the call. >> announcer: this is the "bill press show." which was just as you say -- maybe it was starve the beast. i'll look it up during the break. going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party o
own party some quite comfortable with the sending his party over the fiscal cliff. two 6 ago had a comfortable conversation and the white house. i would say two thanks. despite declines the president supports a balanced approach, the democrats have it to its various a barrel spending cuts. secondly, no progress has been made in the talks over the last a of weeks. this is not a game. jobs are on the line. the american economy is on the line. this is a moment for american leadership. it is the way ticket it done until washington. a mature0 lead and a had a meeting with his secretary. it was frank and d -- it was frank and direct. we saw to find out what the president is really willing to do. i remain hopeful that productive conversations can be made it into the it is ahead. elicited a leadership team met with a risk in bull's and leadership is above the business approach the warehouse as an annoyance. i have made clear that we have made the concessions on the line by putting ravenna's up front. many democrats grow up dozens of booklets that must be part of a sensible agreement that
. all right. the president yesterday on the fiscal cliff. >> obama: let's allow higher rates to go up for the top 2% that includes all of you guests but not in anyway that is going to affect your spending your lifestyles or the economy in any significant way. let's make sure that 98% of americans don't see a single dime in tax increases next year. 97% of small businesses don't see a single dime of tax increases next year and by doing that alone we raise almost a trillion dollars. [♪ "world news tonight" theme ♪] >> stephanie: associated press says the white house is signalling president obama is willing to let the country go over the cliff. this is a choice of the republican party if they are willing to do higher rates on the country, there is a lot to talk about, if they are not, they will push us over the cliff. tim geithner said there is no prospect in an agreement that doesn't include the tax rate going up on the top 2% of americans. he said we are not prepared to have the american economy held hostage to periodic threats. >> there you go. >> stephanie:
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